Product Description
FROM THE BACK COVER: Are you caught up in the financial thinking of the last century? That's when we learned to buy a home and pay it off as quickly as possible. It made sense in the conditions that existed back then. It doesn't make sense today. How would you like to: 1) Safely leverage and compound assets you didn't realize you had? 2) Become your own bank and build family wealth? 3) Pile up stock market gains, but never take the losses? 4) Lock-in a rich, secure and carefree retirement? 5) Transform the IRS into your wealth-building partner? 6) Create real wealth, empowering you to help others? 7) Get to your existing retirement funds with little or no taxes? 8) Leave a fortune to your heirs? STOP SITTING ON YOUR ASSETS make these strategies crystal clear -- and you can apply them with security and ease. If you own a home, you owe it to yourself to know about today's new reality: You are sitting on a potential fortune that can safely and confidently be put to work to build a massively abundant financial future. A future so rich that -- before STOP SITTING ON YOUR ASSETS -- could have only existed in your dreams.
Customer Reviews:
don't waste your money on this book or its strategy.......2007-10-05
First of all, the author has enough material for a magazine article at best and she has padded and stretched it into a book. That makes for an annoying read.
Secondly, her math is deceitful. She says to borrow the equity from your home at 8% and put that money to work getting an 8% return and you will end up with a huge pile of money. What about the payments? Oh, yeah. She subtracts those as a lump sum at the end from your pile of money. Everyone knows the payments have to made every month so if you're borrowing at 8% and getting an 8% return you're simply going to break even. If you're as smart as a fifth grader you know that math calculations have to be performed in the correct order or you'll get the wrong answer. She also gives an example of someone who could pay cash for a house but takes out a mortgage anyway and invests the money. She conveniently ignores the fact that the person could simply pay cash for the house and then invest what they would have made in payments each month and that money would grow to almost the same amount as her "safety fund"
The third problem with this strategy is that the only way to get this 8% tax free, totally safe return is to buy a questionable insurance product that she or her friends will be happy to sell you. Then you'll have the IRS looking over your shoulder.
I'm not a big fan of a mortgage free house for a number of reasons but if you're going to harvest equity and invest it, you'd better know what you're doing. For the average person it's way too risky.
Start saving some money by NOT buying this book.
This book has been done before, called Missed Fortune 101.......2007-09-22
Sad to see people trying to ride the coattails of another book and rip it off so blatantly. The orignal book called Missed Fortune 101 introduces the world to these strategies. Well Stop Sitting comes in and basically changes a word here and a word there to try and be different. For example Missed Fortune 101 talks about "going down the highway of life with one foot on the gas and one on the brake" Ms. Snow talks about going down the highway with 4 flat tires and a broken windshield...Come on!
Read Missed Fortune 101 Missed Fortune 101: A Starter Kit to Becoming a Millionaireto read the real story first, Read Stop Sitting for a rehash, if you like that kind of stuff...
I know I'm gonna write a book called Elbib and have it start out with a guy named Aaron and a girl named Emily who live in the jungle, then get kicked out of the jungle for eating the forbidden vegetable...
Looking for answers.......2007-08-19
I, too, was in awe after reading this book. The ideas are presented in a simple, easy to understand way, and it seems to me to be very logical. I'm no financial genius, rather a former math teacher and the numbers seem to work on paper. But, really, after the awe has worn off and reality hits, what's the catch? This seems too easy. If this idea has been in existance for several years, then why hasn't it caught on with the "masses?" Why don't more financial advisors recommend this? Is there something I'm missing or does it really work that simply and just nobody knows about it? Somebody....give me the real scoop!
Very, Very dangerous book.......2007-08-02
As I began to read this book, my first challenge was to get over the unearned arrogance of the author. Marion Snow may have a "scientific mind" and have a little experience in the mortgage industry selling people mortgages, but she is no financial planner.
The book is absolutely full of errors and misrepresentations of how some very complex financial products work. She literally demonizes financial planning professionals who have spent years of their lives helping clients and studying the ever changing landscape of both financial planning, estate planning, as well as the Internal Revenue Code.
Some of her VERY dangerous errors are as follows:
First, nearly all of her calculations discuss saving taxes at a 30 or 33% tax rate. While this sounds good, the average American is nowhere near the 33% tax bracket. The 33% tax bracket does not begin for most married Americans until they have over $195,000 of annual income.
Secondly, the insurance products that she describe do not function as she indicates. On page 110, she casually mentions that her insurance strategy will work as "long as you are careful not to deplete your cash value." She does not mention that the "tax advantaged policy loans" she advocates are 1)charged interest by the insurance company, and 2) taxable if the policy lapses in later years. Additionally, she neglects to mention that Universal life policies have increasing costs which will cause them to lapse using her strategy.
Third, all of her calculations are "assumed and hypothetical." They do not address real numbers. About halfway though the book she indicates she "got her insurance license" just to verify her findings. Unfortunately, an insurance license is viewed by most credentialed financial planners with the same reverence that training wheels are viewed by Olympic bicycle racers...
Fourth, her mortage strategies advocate taking illegal tax deductions - the tax deductions she describes are not allowable to the degree the advocates, in the tax brackets she uses as examples. The deductions "phase out" well before a taxpayer can use them to the degree she illustrates. Simply put - the numbers are INCORRECT.
Ms. Snow should spend a few years in school and learn what she is talking about - and a few more years working with real world financial clients -before being arrogant enough to throw stones at those who do.
She is flat wrong in many areas and will hurt a great many people who take her cutesy approach to financial planning seriously.
Jon - CFP, ChFC
What's wrong with Stop Sitting on Your Assets.......2007-07-29
This book uses fuzzy math to reach predetermined conclusions.
No only is the math flawed, but what's worse is that the book ignores the tax code and 264(a)3 specifically (which dramatically affects the concepts discussed in his books).
There is no such thing as a tax free, money management free, expense free "side fund" as she discusses in this book.
It is clear that the author does not understand how money grows in the real world and does not understand life insurance (which is ironic since the book is about building wealth using indexed equity life insurance).
Of all the books in the marketplace which discuss Equity Harvesting, this is by far the worst one.
Amazon.com
Despite its sensational title, David Bach's The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich is not a get-rich-quick guide. Rather, the book is a straightforward march through common-sense personal financial planning that suggests readers "automate" their contributions to retirement and investment vehicles. Bach, in fact, calls his model the "tortoise approach" to becoming wealthy by retirement age.
In the early part of the book Bach builds on ideas he established in Smart Women Finish Rich and other bestselling titles. His core principle is that, to succeed, you must "Pay Yourself First." In other words, he suggests using pre-tax retirement accounts (i.e. 401(k)s, IRAs, or Roth IRAs) to set aside a fixed, monthly sum of money before considering what is left for living expenses. The "automatic" part of the title comes from Bach's emphasis on using automated payroll deductions to avoid the temptation of using the money to pay today's bills.
Bach insists that "regardless of the size of your paycheck, you probably already make enough money to become rich." But his claims that his plan requires "no budget, no discipline," is a bit disingenuous. His discussion of the "The Latte Factor" shows that, to find money to start a retirement plan, a person with a modest income needs to make an up-front commitment to stop accruing debt and to reduce spending on such "wasteful" items as lattes and cigarettes.
In the end The Automatic Millionaire does not offer much that is new for readers already familiar with personal finance basics like accelerated mortgage payments, "the miracle of compound interest," and the setting up of emergency funds. But, for those just starting with financial planning, Bach provides a host of resources to put recommendations into action. He walks his readers through such fundamentals as shopping for interest rates, creating a balanced retirement portfolio, and consolidating debt. And Bach's conversational style will make this quick read highly palatable for those daunted by more detailed investment and personal finance titles. --Patrick O'Kelley
Book Description
What’s the secret to becoming a millionaire?
For years people have asked David Bach, the national bestselling author of Smart Women Finish Rich, Smart Couples Finish Rich, and The Finish Rich Workbook, what’s the real secret to getting rich? What’s the one thing I need to do?
Now, in The Automatic Millionaire, David Bach is sharing that secret.
The Automatic Millionaire starts with the powerful story of an average American
couple--he’s a low-level manager, she’s a beautician--whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. Through their story you’ll learn the surprising fact that you cannot get rich with a budget! You have to have a plan to pay yourself first that is totally automatic, a plan that will automatically secure your future and pay for your present.
What makes The Automatic Millionaire unique:
You don’t need a budget
You don’t need willpower
You don’t need to make a lot of money
You don’t need to be that interested in money
You can set up the plan in an hour
David Bach gives you a totally realistic system, based on timeless principles, with everything you need to know, including phone numbers and websites, so you can put the secret to becoming an Automatic Millionaire in place from the comfort of your own home.
This one little book has the power to secure your financial future. Do it once--the rest is automatic!
Download Description
Bestselling financial advisor David Bach brings us his proven, revolutionary system that in one hour will make readers -- even those not smart about money, not disciplined or budget-minded -- rich.
The Automatic Millionaire shows readers how to change financial practices and financial lives, beginning with a powerful story of an average American couple -- he's a low-level manager, she's a teacher -- whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. The incredible message Bach delivers is that the key to getting rich is by "automating" the way to wealth by "paying yourself first," using automatic funded retirement accounts and money market accounts to secure the future and pay for the present.
In a short book destined for bestseller lists, The Automatic Millionaire introduces readers to a system that is powerfully simple, and automatically effective, a life-changing system that delivers. Do it once, the rest is automatic.
"The Automatic Millionaire is an automatic winner. David Bach really cares about you: on every page you can hear him cheering you on to financial fitness. No matter who you are or what your income is, you can benefit from this easy-to-apply program. Do it now. You and your loved ones deserve big bucks!"
KEN BLANCHARD, CO-AUTHOR OF THE ONE MINUTE MANAGER
"The Automatic Millionaire gives you, step by step, everything you need to secure your financial future. When you do it David Bach's way, failure is not an option."
JEAN CHATZKY, FINANCIAL EDITOR, NBC'S TODAY
"David Bach's no spin financial advice is beautiful because it's so simple. If becoming self-sufficient is important to you then this book is a must."
BILL O'REILLY, ANCHOR, FOX NEWS, AND AUTHOR OF
WHO'S LOOKING OUT FOR YOU?
Customer Reviews:
I wish my parents knew this.............2007-08-31
And then they could have taught me. This is so logical and easy, it is stupid that it isn't taught as "Post-Adult Survival, 101". This is the way to create your retirement without missing anything.
And about the time you are fifty, you will be able to look back and smile because you are able to retire, and young enough to enjoy it. It should be illegal to NOT make this book mandatory reading for high school seniors.
The Automatic Millionaire is One of the Greatest Eyeopeners Ever!.......2007-08-25
Life-Changing. This book is truly life-changing! When I first read it, I understood what has held 80% of all Americans back financially speaking which is not understanding the power of saving, the constructive used of compound interest and the total avoidance of credit card debt. Though I found it hard to believe when I read the title, I saw upon reading that it is indeed possible to to become an automatic millionaire through a very creative and powerful savings plan exercised over 10, 20 or 30 years.
This book is MUST reading along with these other classic in the field of personal success and money:
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
TRANSFORMING DEBT INTO WEALTH
Rich Dad Poor Dad Classics - 3 Copy Boxed Set (Rich Dad)
David Bach's book should be required reading in every high school business class. Thank you Mr. Bach for opening our eyes to the path of financial independence.
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich.......2007-08-10
This is a very good basic financial book. It will help not only those who are young, but those who are older. It is full of great ideas to teach us to save money. I liked it so well I ordered one for each of my children.
Usefulness depends on level of reader.......2007-08-03
I bought this book about a year ago and read it pretty quickly. I've read most of the classic personal investing books, so for me, this book is sort of an insult to my intelligence. I just read it again since it's a quick read and I'm still not impressed with it.
If you know little about investing (i.e. if you don't know how to calculate future value on a financial calculator) then I imagine this would be a good book to get a basic understanding of the importance of saving and the miracle of compound interest. I also imagine, as some reviewers have mentioned, that this book would be a good gift for a college grad (if not a business major) or a couple just starting out (if you feel they have no clue about money).
This is just "The Wealthy Barber" repackaged and even more elementary. I can sum this book up in one sentence: forgo the coffee and invest the money in mutual funds. The rest is just filler.
If you really want to read a book on investing, John Bogle's "Common Sense on Mutual Funds" is the best for the mutual fund investor. It will take a little more intellectual curiosity to get through, but the man (who started the Vanguard family of mutual funds) is a genius and you will have a much better understanding of the necessity, risks, and rewards of investing for having read it.
If You're in Junior High School...........2007-08-02
"The Auto-Matic Millionaire" is for neophytes starting out (regardless of age) but it could have gone farther. If this book has the information you need it can be helpful. But it barely scratches the surface.
In addition to the "pay yourself first" DCA (dollar-cost averaging), compound interest, and numerous financial website addresses, there is continuous advice of: "save something, and don't spend all your money." This has now become the too-late (attention Baby Boomers) national anthem of the United States. But nobody's really listening.
Author David Bach presents an occasional chart to illustrate the mathematical factual points. One basic chart on compound interest used 3 examples of three hypothetical people named "Billy, Susan and Kim" who start compounding at the ages of 15, 19, and 27. And yes, time is of the essence. The more of it the better. We know starting early provides enormous advantages down the road. But there is something missing in this chart on page 49. In the compound interest model, if managed mutual funds are used with 12b-1 fees, portfolio turnover costs and taxes, the returns are reduced drastically. Many of these fees are hidden. The total Expense Ratios must be carefully perused. They significantly eat into returns over time. Time not your friend anymore, and becomes your enemy.
Bach's note of the time and financial saving on paying a bi-weekly mortgage instead of once per month is helpful (page 181) but still widely known by just about anyone with, a mortgage.
Pay yourself first: old news here. We hope that we workin' folks would pay ourselves first. There is an outlined grid that can be xeroxed and filled out where one can list the money spent and/or wasted and tallied up at the end of the week. Want to know how to hire the right financial planner? This info, you won't find. You'll have to go to the author's website.
Again, this book doesn't go too deep. The information contained in it can be found on the web or via Bob Brinker for free. This isn't necessarily negative, because this small book contains lots of information in a portable paperback, that can benefit a junior high school student. But your tiny home calculator can compute compound interest just as well as this book.
Book Description
Do you know your Number?
What happens if you don't make it to your Number?
Do you have a plan?
The often-avoided, anxiety-riddled discussion about financial planning for a secure and fulfilling future has been given a new starting point in The Number by Lee Eisenberg. The buzz of professionals and financial industry insiders everywhere, the Number represents the amount of money and resources people will need to enjoy the active life they desire, especially post-career. Backed by imaginative reporting and insights, Eisenberg urges people to assume control and responsibility for their standard of living, and take greater aim on their long-term aspirations.
In 1999, Eisenberg was in the midst of downshifting from having served as the Editor-in-Chief of Esquire and other high profile positions. He was "half-in, half-out of the workplace" with an enviable consulting position at Time, Inc., and a family comfortably settled in the suburbs. That's when he received an unexpected offer from the Wisconsin-based Lands' End which, in the end, he couldn't resist. It meant uprooting his family and moving to the rural heartland, and taking on the challenges of an entirely new way of life. Before the move, he admits, "I was worried about the Number." Once in Wisconsin, Eisenberg confesses that the "Number was leading us around by our noses."
From Wall Street to Main Street USA, The Number means different things to different people. It is constantly fluctuating in people's minds and bank accounts. To some, the Number symbolizes freedom, validation of career success, the ticket to luxurious indulgences and spiritual exploration; to others, it represents the bewildering and nonsensical nightmare of an impoverished existence creeping up on them in their old age, a seemingly hopeless inevitability that they would rather simply ignore than confront. People are highly private and closed-mouthed when it comes to discussing their Numbers, or lack thereof, for fear they might either reveal too much or display ineptitude.
In The Number, Eisenberg describes this secret anxiety as the "Last Taboo," a conundrum snared in confusing financial lingo. He sorts through the fancy jargon and translates the Number into commonsense advice that resonates just as easily with the aging gods and goddesses of corporate boardrooms as it does with ordinary people who are beginning to realize that retirement is now just a couple of decades away. Believing that the Number is as much about self-worth as it is net worth, Eisenberg strives to help readers better understand and more efficiently manage all aspects of their life, money, and pursuit of happiness.
* According to Eisenberg,
"Number chasers" fall into four personality types:
--"Procrastinators" enter their forties and fifties ensconced in a cloud of avoidance and denial about the years ahead of them, or simply do not understand investing in their futures.
--"Pluckers" often lazily or arrogantly pull ephemeral, albeit specific, Numbers from thin air with little attention to developing a realistic and coherent plan to achieve their goals.
--"Plotters" crunch every practical aspect of their financial history, hoping to cement their Number in black and white, even at the expense of not having fun and leisure.
--"Probers" visualize their Numbers not as an end but as the means to pursuing dreams and passions, and completing inner and outer journeys to self-fulfillment.
* The current
"Debt Warp" is the "silent Number killer that afflicts young and old" that has been brought on by our "whip-it-out credit-card culture."
* The
"Lost Years" describes a person's 20s, 30s, and 40s wherein sensible financial foundation-building bows to oblivious and careless spending, and the tug-of-war dichotomy between the "old Rest of Your Life" and the "new Rest of Your Life."
* A surprise
"Lifestyle Relapse" attack around retirement age can be induced by debt, aging, long term care, and self-absorption. Living longer and spending more, people will eventually experience dire consequences in response to the debt-drenched, expense account-driven lifestyles to which they have grown accustomed.
* The six tenets of the
"Eisenberg Uncertainty Principles" outline the dubious state of living in a carpe diem-addicted, indebted culture with little financial guidance or responsibility.
*
"Downshifting" is an important skill one needs to know how to do in the expanse between leaving a career and before death in order to maintain financial stability and a happy life.
Eisenberg's book is not an investment guide, but rather something wholly original: a revealing look behind our most common financial and emotional conflicts and how we can begin to get a grip on them. Eisenberg gives each reader a unique and unprecedented tool with which to virtually craft his or her future. This encompassing book is a priceless, step-by-step prelude to initiating, or continuing, discussions with a qualified financial advisor. The bottom line for The Number is that Eisenberg offers each reader a fresh and promising beginning to the rest of his or her life.
Download Description
"Do you know your Number? What happens if you don't make it to your Number? Do you have a plan? The often-avoided, anxiety-riddled discussion about financial planning for a secure and fulfilling future has been given a new starting point in The Number by Lee Eisenberg. The buzz of professionals and financial industry insiders everywhere, the Number represents the amount of money and resources people will need to enjoy the active life they desire, especially post-career. Backed by imaginative reporting and insights, Eisenberg urges people to assume control and responsibility for their standard of living, and take greater aim on their long-term aspirations.
Customer Reviews:
The Number.......2007-10-08
I have read many books about planning for retirement and investing. I enjoyed this book immensely. I see that many reviewers were somewhat disappointed with the book. Since I am from the era of Zen and the Art of Motorcycle Maintenance this book was right up my alley. We all are out there (or should be out there) chasing the number, but as with Zen there is a much bigger picture you must look at then just the number. My wife and I have had several conversations because of this book. As Mr. Eisenberg says in his book you can get a number with only a few taps of a calculator, but what you want to do with the rest of you life is a much deeper consideration. We feel that we are in a much better place to move forward with the rest of our life. Bravo Mr. Eisenberg!
Waste of money.......2007-08-26
Why can't we give "0 stars"? No insightful content. Self-important name-dropping. I felt cheated out of my $20+ for a book saying, "Retirement is about more than money."
More like 3.5 stars..........2007-08-09
A reader's perspective on this book will probably vary a lot based on their individual experience and knowledge. For some it may be eye-opening, for others it may be more like "tell me something I don't know".
It is a fast read, and full of interesting factoids. The history of how people have looked (or not looked) at their retirement plans (actual drawdown and spend, as opposed to micromanaging their 401ks) was interesting.
Pros:
- easy to read, light humored.
- Interesting stats, and good references to experts in the field
- Nice thumbnail sketches of types of individuals and their exposures to risk
- has some interesting frameworks. For example, think about your retirements spending as being equal to 4% of your intended nest egg. If you need more than 4% in retirement, you may need to save more to get your Number up.
Cons:
- may be too basic for someone who has done analysis for their actual long term planning. It should also come as no surprise that the current generation has their own accountability to save for retirement (not the government or your employeer).
- can be alarmist for people...i.e. Guess what, you could be in trouble. And even worse, you can't necessarily trust people who say they are 'experts'.
- middle section of the book drags a bit compared to intro, I thought.
In summary, if you have thought about retirement, but haven't yet really done some detailed planning, this book can be an enabler for how to think about plans. It won't solve your problems, but it will highlight the considerations you should be making.
I tend to believe that people get scared of the complexities in financial planning, when in fact, several basic principles can be applied to help an individual along a reasonably healthy path. The internet provides a lot of resources to do this, but there probably needs to be a better standard primer out there.
Write a Book, Make Your Number.......2007-08-01
Ugh.
I did something I rarely do, I picked up a book on a whim at an airport. I fell for the cover title, and I was interested to read another person's perspective on reaching the ultimate personal annuity goal - a self-perpetuating nest egg.
My primary objection is that - though this is a book clearly marketed to the masses - Eisenberg's primary focus appears to be on a close circle of friends who are multi-millionares (and yet, still seem unsure whether they've accumulated enough money). Hence in terms of focus, the book is frequently off-base.
A second objection is the writing style. Perhaps this can be expected from a journalist/editor, but I often found myself rolling my eyes at fluffy filler which largely served to distract from the content-at-hand. "... [ten commandments] etched onto an I-can't-believe-it's-not-stone Corian tablet", and "... slightly better than a snowflake's chance in the Sonoran Desert", for example. It's a book - no need to fill the column, Lee.
My third primary objection is the wide employment of statistics without backing references. It can be excused that most of the material was repetitious for me, but figures without references should raise suspicion.
On the positive side, the book was an easy read, entertaining on occasion, and may spur a few people to think harder about their investment situation. But there are far better resources out there.
For practical investing, I very much recommend Burton Malkiel's "Random Walk Down Wall Street", and Benjamin Graham's "The Intelligent Investor".
In summary, with my purchase, Lee is one royalty check closer to making his Number.
Philosophical guide to saving for retirement.......2007-05-30
Great read by somebody not in the financial industry. He is a journalist and editor, so the book is thoroughly researched. He is funny as heck, so, the book will keep you entertained as you read. While is he not a financial specialist, he really knows the business well. He helps you understand the business so that when you deal with the wall street guys and insurance guys, you will be a smarter and more informed client. It's a great wakeup call for anybody in their 30s, 40s, and 50s, who are approaching retirement and need sound guidance on what to do and how to figure out the right path. Most importantly, it's a good test for your own values, so you can figure out for yourself what is important to you and how to spend the rest of your life. So, it deals not only with money, retirement, and investing, but also with how you invest your time - or the amount of time you have left here on earth. Very well done, give it to somebody you care about or somebody who needs financial direction for retirement, saving, life insurance, etc.
Book Description
Real Estate Advantages is for first-time as well as seasoned real estate investors. It reveals the tax and legal loopholes available and most important, how they can be used together to not only maximize your income--but accelerate your income from real estate investing. Sharon Lechter and Rich Dad's Advisor Garrett Sutton team up for the first time to deliver practical, proven strategies and formulas--from the perspective of successful investors, CPAs and asset protection attorneys--for acheiving the greatest leverage from real estate investing. Written in easy-to-understand language, this book de-mystifies the legal and tax aspects of investing with easy-to-follow, real life examples. Real Estate Advantages reveals how you can find good advisors, create steady monthly income, reduce your risk, pay less in taxes, make more money with your banker's money and, best of all, the government helps you!
Customer Reviews:
Loaded with Helpful Strategies .......2007-08-26
Very informative. This book is full of great strategies of how to maximize your return and how to protect your real estate investments and retire comfortably. You will learn how to choose the right asset protection for your investments, how to maximize your real estate investments to your retirement advantage, the use of 1031 exchange to pass on assets to your kids without paying capital gain tax, how to mix and match business entities if you have multiple RE investments in different states, learn the advantages and disadvantages of a Nevada, Wyoming, California, Texas corporation or LLC. After reading this book, I attended a seminar with the co-author lawyer, Garrett Sutton, at a National Real Estate Investment Club Expo in L.A Convention Center. We had a Q&A after his presentation. This guy really knows his stuff. He seems to be a nice and humble person. If you are a RE investor or thinking of becoming one, I highly recommend this book. I also recommend that you consult with his office for asset protection. He does business over the phone for all states. You can also get lots of tips and info in Garrett Sutton's websites.
A Solid Foundation for launching a RE Investing career..........2007-08-20
Of all the Real Estate "How To" books and programs I've purchased over the years, one thing was always lacking...the legal aspects of holding and protecting the property. A few may have touched on it, but nothing as meaty as this book. Very informative and easy to understand. Buying real estate without reading this book would be like going into combat without weapons and body armor...at some point you're going to end up getting killed ( or sued ). In this day and age where people are suing fast food restaurants for making them fat, or cigarette companies for giving them cancer, don't think some tenant won't sue you some day for something equally as stupid. This book is super cheap insurance...buy it if you're seriously considering real estate investing.
Road to sucess!.......2007-06-10
The money you will save buying this book will save you thousands!It is a reference book that help you avoid all the common tax and legal problems when investing in real estate.
The ultimate get started book.......2007-04-10
This has been one of the best books on real estate I have ever read. I am just about to get started and will definately put this book into action. It is hard to get all of the topics for real estate into one easy to read format, but the Rich Dad advisors have done it and with a little flare. It is an easy read and good for anyone serious about getting started or if you have made mistakes along the way.
Great Stuff for the Money wise!.......2007-04-10
Full of great information if you want to know how to avoid costly mistakes for managing your excess funds.
Book Description
David Bach has a plan to help you live and finish rich—no matter where you start
So you feel like you’ve started late?
You are not alone.
What if I told you that right now as you flip through this book, 70% of the people in the store with you are living paycheck to paycheck?
What if I told you that the man browsing the aisle to your left owes more than $8,000 in credit card debt? And the woman on your right has less than $1,000 in savings?
See? You’re really not alone.
Unfortunately, the vast majority of people who’ve saved too little and borrowed too much will never catch up financially. Why? Because they don’t know how.
You can start late and finish rich—but you need a plan.
This book contains the plan. It’s inspiring, easy to follow, and is based on proven financial principles. Building a secure financial future for yourself isn’t something you can do overnight. It will take time and it will take work. But you can do it.
I know. I’ve helped millions of people get their financial lives together—and I can help you. Spend a few hours with me—and let me challenge you. Give me a chance to become your coach.
Just because you started late doesn’t mean you are doomed to an uncertain future. Whether you’re in your thirties, forties, fifties, or beyond, there is still time to turn things around. It’s never too late to live and finish rich. All it takes is the decision to start.
—David Bach
Is it too late for me to get rich?
Over and over, people share their fears with David Bach, America’s leading money coach and the number-one national best-selling author of The Automatic Millionaire. “If only I had started saving when I was younger!” they say. “Is there any hope for me?”
There IS hope, and help is here at last!
In Start Late, Finish Rich, David Bach takes the “Finish Rich” wisdom that has already helped millions of people and tailors it specifically to all of us who forgot to save, procrastinated, or got sidetracked by life’s unexpected challenges.
Whether you are in your thirties, forties, fifties, or even older, Bach shows that you really can start late and still live and finish rich – and you can get your plan in place fast. In a motivating, swift read you learn how to ramp up the road to financial security with the principles of spend less, save more, make more – and most important, LIVE MORE. And he gives you the time tested plan to do it.
The Start Late, Finish Rich promise is bold and clear:
Even if you are buried in debt – there is still hope.
You can get rich in real estate – by starting small.
Find your “Latte Factor” – and turbo charge it to save money you didn’t know you had.
You can start a business on the side – while you keep your old job and continue earning a paycheck.
You can spend less, save more and make more – and it doesn’t have to hurt.
David Bach gives you step-by-step instructions, worksheets, phone numbers and website addresses --everything you need to put your Start Late plan into place right away. And he shares the stories of ordinary Americans who have turned their lives around, at thirty, forty, fifty, even sixty years of age, and are now financially free. They did it, and now it’s your turn. With David Bach at your side, it’s never too late to change your financial destiny. It’s never too late to live your dreams. It’s never too late to be free.
Customer Reviews:
great for any age!.......2007-09-27
Everyone should read this book who is over 30! Bach gives a great blueprint for achieving financial independence. Read "The Instant Millionaire" also.
Great Advice.......2007-09-26
The book is well written and offers practical advice for anyone serious about getting their finances focused on their future. The book isn't enough to get you to the goal but is a fabulous starting point for the journey. I plan to by other books by David Bach.
Good First Push to Wealth.......2007-09-21
David Bach is a good, not great, financial advisor. That being said, this book could just as easily have been yellow and black and been named "Wealth for Dummies." That is NOT a condemnation! This is a perfect starting point for those that want to get on the way to financial freedom. He speaks the truth, easily understood. Further reading will be needed AFTER you put his concepts into ACTION!!!
BUY IT!
A Good Section on Real Estate.......2007-09-01
As someone who buys fix-up houses and rents them out, I read with interest Chapter 19 "Get Rich Investing in Real Estate ... On the Weekend." I think that the author describes, in a condensed form, exactly what anyone can do to be successful in real estate.
In my opinion, the two safest ways to get into real estate, and the author describes each technique, are: 1) buy a home, rent it, then do it again, and/or 2) buy a home, live in it 2 years, then sell it without paying any federal taxes using the "homeowner's tax break." Over the past six years, my wife and I have used both techniques. We have several properties that we keep as rental properties and provide us with cash flow. In addition, we also buy houses in need of repair with the intention of selling them and utilizing the "homeowners tax break" to pay no federal taxes.
My wife and I didn't sock away much money for retirement, but with our rental houses, we have a flow of income that will last as long as we keep the houses. Many people stay away from rental properties because they don't want to deal with renters. However, with practice anything is easy, including dealing with renters, and the rewards far outweigh the difficulties.
If you really don't want to deal with renters, just use technique #2, where you buy and sell every two years. I like to say that technique #2 is for people who wear both a belt and suspenders, they really like to play it safe.
Oveall, I thought the book was pretty good, and I especially recommend the sections on real estate investing.
Rah, Rah, Sis-Boom-Bah...... yuck........2007-08-28
This book is just a rewrite of Mr. Bach's other Finish Rich books. The book presents methods someone could use to save for a comfortable retirement. All the ideas discussed are common sense items which can be found in many other places. The ideas themselves, without the cheerleading style, could be discussed in a book half it's size.
If you need the cheerleading touchy-feely style to get you to consider the methods in the book, then you might consider buying ONE of Mr. Bach's books, the one that most applies to you. There is no need to waste money on the rest of his books... you'd just be reading about the same ideas all over again.
Book Description
Most investors spend too much time trying to outguess the market and not enough time thinking about their long-term financial futures. That’s why today’s retirees (and soon-to-be retirees) need strategies, not stock tips. Nationally recognized Certified Financial Planner®, radio talk-show personality, and author
Raymond J. Lucia shows you little-known concepts that can fatten your savings and boost your standard of living in retirement.
In an easy-to-understand and often humorous style, Lucia details how ideas such as nontraded real estate investment trusts, 72(t) elections, and equity-indexed annuities can give you, the investor, a leg up on the path to retiring in comfort and safety. Lucia brings his 30 years of experience to bear in revealing how and when to tap your retirement plans, ways to use your home as a source of retirement dollars, and how to lower taxes on appreciated company stock. He’ll also explain how investing in low-income housing tax credits can help you tax-wise even as you assist others.
Filled with hands-on, in-depth insights and practical advice, this book will give you all the tools you need to win at the retirement game.
Customer Reviews:
Helpful book !.......2007-10-01
This is the follow up to buckets of money. I learned a lot and enjoyed the approach. Some sections will be difficult for new investors to understand.....but stick with it, very good info and it is now one of my new reference books to review and share with others. Thanks Ray
Nondirected approach.......2007-09-10
The information given is a little disjointed and a common theme in integrated throughout without proving it.
ready-set-retire.......2007-09-09
Well written. In-depth analysis of bucket two strategies including annuities and complex trust/insurance alternatives. Recommend reading "Buckets of Money"- author's first book- prior to reading this book.
Good Book, but...........2007-07-09
Ray pretty much has a one size fits all philosophy. He is simply trying to get his name out there to promote his firm, which is not always known for doing what is best. He hosts a Radio show as well. If you are going to trust a radio guy, then make it Moe Ansari of Marketwrap.
Ready Set Retire.......2007-06-27
It was 5 star item for me as I have saved and have
< 10 years to retirement. It is easy to read and understand. It is a practical and conservative plan for a secure finacial retirement. You will want other books to cover other aspects of retirement but for a investment plan it is the best I have read.
Book Description
AT LAST, SOUND, INFORMED, REALISTIC ANSWERS FOR RETIREMENT FINANCE
Use the simple, step-by-step guidance in J.K. Lasser's Your Winning Retirement Plan to double your money for your golden years. Whether you're forecasting how much you need to be saving for retirement or are deciding how much you should be spending once you're there, acclaimed planning expert Henry K. Hebeler can get you the results you need. You'll analyze your investments and start getting the highest possible returns--with the least amount of risk; take a real-world look at your total financial picture, without inappropriate planning assumptions; and make use of a new concept called the Retirement Autopilot, which can help you budget more wisely today and ensure that your investments will last a lifetime.
Key coverage will help you:
- Beat reverse dollar-cost averaging so your money will continue to grow
- Make use of modern feedback theory to secure your finances today--as well as tomorrow
- Find solutions to different retirement scenarios, including early retirement and when only one spouse is retired
Customer Reviews:
Lasser Let Me down.......2007-08-26
Lasser is a known name in the consumer 'financial' publishing business. This book about retirement planning is very outdated and even misleading in some areas. The calculations it asks the reader to do are with pencil and paper. As my daughter used to say "A,DUUh!" There are a myriad of easy PC based tools in the market that are far superior. I would have returned the book the next day if I bought it at a local book store.
Financial Realism in Retirement.......2007-05-10
This is what happens when a highly qualified person writes a book to help others understand their retirement finances so that they can realistically plan and feel as comfortable as is possible with their present and future financial well-being.
It is based on realistic historical and mathematical facts. The planning methodology is as good as it gets. I can't say enough about how useful this book has been to me to say nothing of the confidence I now have in my personal finances. It's not enough to say that Mr. Hebeler is to be congratulated!
Good stuff.......2007-01-11
This book is different that others I have read and makes much more sense. Just wish I had it 30 years ago.
Thinking of retirement .......2006-06-28
JK Lasser's Your Winning Retirement Plan was very informative. If you are thinking of retirement you may want to read this book first. I found it helpful, and more than ever realize that I need to hire a Financial Advisor, because this is a big step. My money is going to have to get me through my golden years, hopefully for a long time.
Sage advice that will keep you on track.......2003-03-26
Hebeler's approach answered for me my most challenging questions: 1] Will my retirement assets allow me to spend what I need (want) to spend each year during my years in retirement? 2] Can I grow my assets at my desired rate while simultaneously lowering the risk of my portfolio? 3] How can I evaluate my financial health each year in a meaningful and action-oriented manner?
All your family members should read it. And if after reading Hebeler's book you still feel the need for professional financial planning, insist that he/she read it as well.
Book Description
This is the same diagnostic system I use with my own clients and with the financial advisors I train. So, going through it will be like having me sitting beside you, whispering in your ear, guiding you every step of the way.”
–from Your Complete Retirement Planning Road Map
Corporate pensions are disappearing. Social Security is in trouble. And the sizable postwar generation is reaching retirement age. With the futures of millions of Americans at stake, Ed Slott, the country’s foremost retirement planning advisor, now offers expert advice on weathering the perfect storm of financial instability that looms on the horizon. Your Complete Retirement Planning Road Map, Slott’s most essential and accessible book yet, provides clear step-by-step directions through the highways and byways of IRAs, 401(k)s, 403(b)s, and other major accounts.
In five helpfully focused sections, Slott combines crucial facts with interactive checklists and questionnaires (those he uses with his own clients) to teach investors and beneficiaries alike the best way to save and to maximize an inheritance. Inside you’ll discover
• My Account Inventory: an overview of every retirement savings account you own, whether you’re thirty or sixty-five–from what it is and where it is to who gets it and how, plus where to put important data for easy access and where to store your essential documents (hint: not in a safe-deposit box)
• The Account Owner’s Care Solution: how to properly fill out retirement account beneficiary forms so that whatever amount of money is left in your account after you’ve fully enjoyed retirement will go to whomever you choose and not to relatives who suddenly pop up out of nowhere
• The Account Beneficiary’s Care Solution: what to do when you inherit so that you won’t lose any of the tax benefits and other opportunities your benefactor has created for you, or make a mistake that could wipe out an inherited fortune that took years to build up
• The Special Issues Care Solution: how to handle the out-of-the-box issues that could affect you or your beneficiaries (e.g., life events such as divorce or incapacity; tax issues for unmarried partners; decisions about trusts)
• The Follow-up Care Solution: how to keep your planning on track and make adjustments when circumstances change, and how to determine whether your professional retirement advisor is really up to the task of preserving and protecting your money
• Plus: the most up-to-date information on tax laws, including the Pension Protection Act of 2006, which provides major new retirement incentives that you can take advantage of
Your Complete Retirement Planning Road Map is an indispensable planning solution that is sure to become the standard how-to on a complex subject that is becoming relevant to more people every day.
Customer Reviews:
A Financial Guide, not a Complete Guide.......2007-02-19
To me the title of this otherwise excellent book is somewhat misleading. It should say something like 'Your Complete FINANCIAL Planning Road Map.' That is, it doesn't go into things like should you move to the sunbelt, or how much money will you need, or medical aspects or any of these other subjects. Instead it is a very complete discussion on the tax issues of investing for retirement.
This book talks about IRA's, and Roth IRA's, and 401(k)'s, and all the other alphabet soup of the tax system in the United States. It is complete and up to date as recent as the 2006 changes to the tax laws.
A major part of the book consists of check lists that you should go over as part of your retirement/estate planning. These also are very well thought out and force you to think about things you would otherwise ignore.
A minor complaint, these checklists are printed in the book. I'd much rather see them on the web or in a CD bound into the book. He says you should fill them in using pencil in case you later want to make changes. I'd like it better to fill them in on a computer and then print them out. Once again, the information is there and more complete than you'd imagine, so you can consider this a minor complaint.
Enough info for a.........2007-01-26
small pamphlet, not a full size book. Rambling and repetitious. Read it twice and couldn't extract any useful information that wasn't available in other sources.
Comprehensive and Infinitely Practical--A Must Buy for Every IRA Owner.......2007-01-23
Ed Slott's latest book, Your Complete Retirement Planning Road Map provides the most comprehensive, infinitely practical, hands-on set of checklists I have ever seen for IRAs and retirement plans. Ed, perhaps the best known and most trusted author on IRAs and retirement plans, takes the reader step-by-step through important concepts regarding IRAs and retirement plans and provides the reader with an action plan. Ed really rolls up his sleeves and gets into the nitty-gritty. Another outstanding feature of the book is that Ed has included the best questions--with complete answers--gathered from his clients and readers over the years. Chances are if you have a question, it has been asked of Ed, and you will find your answer. If you buy Ed's book and follow his recommendations, you will be better prepared and better documented than 99.9% of all the IRA and retirement plan owners.
James Lange, CPA/Attorney Author of Retire Secure! Pay Taxes Later: The Key to Making Your Money Last as Long as You Do
Mastering the complex with simplicity.......2007-01-22
I have personally been studying with Ed Slott in his Master's Elite IRA Advisory Group for the past two years. This new book is a composite of the various modules we have been studying in depth. This book gives an excellent overview in a version to be understood and simplified so that many can be aware of the many issues present in dealing with the one asset that for many represents their largest financial position. I applaud Ed's efforts to make such a text available and appreciate the opportunity I have had personally to train in depth in all of the issues detailed in his book. I would also commend serious readers and investors to his two earlier books my favorite of the two being, Retirement Tax Time Bomb and How to Defuse It. Anyone with a large IRA should be aware and get the book. It could make a tremedous difference in who ultimately winds up the beneficiary of all your hard long years of labor.
Same Rules, Easier to Understand.......2006-12-30
I have read all three of Ed's IRA books. As a Financial Planner, I find the Retirement Savings Time Bomb to be the best. However, if you are slightly less versed in tax code than a professional planner, his newest book is an excellent tool. I strongly recomend it to all (non-financial professional) qualified account owners. Good Job Ed!
Book Description
A proven way to financially prepare for retirement
Are you wondering if you can make your retirement savings last?
Concerned about inflation reducing your purchasing power?
Worried about the stock market's violent swings?
In Buckets of Money: How to Retire in Comfort and Safety, nationally recognized Certified Financial PlannerTM and radio personality Ray Lucia offers you a smart and conservative way to protect and grow your nest egg-so you can enjoy a comfortable retirement without worrying about your money running out.
Developed by Lucia over his thirty-year career as a financial planner, the "Buckets of Money" technique is a proven way to achieve both income and growth, while guarding against the ravages of inflation. Buckets of Money is filled with in-depth insights and practical advice that will help you assess your retirement situation, save the money you need to last your entire lifetime, and adjust your plan to good times and bad.
Regardless of your age, income, net worth, or investment experience, you need to have a solid plan for your retirement years. Buckets of Money provides you with such a plan, and shows you the best way to implement it.
Download Description
The smart time-tested approach to protecting and growing your nest egg
Buckets of Money outlines a proven strategy to both protect and grow the nest egg of individuals approaching retirement through a smart and conservative system. The strategy outlines three "buckets" into which an individual places their money-stable reserve, income, and growth. Readers will learn that through proper allocation and investments, these buckets will provide them with the necessary assets over the course of their retirement. Filled with real-life examples and a detailed self-assessment test, Buckets of Money will help readers evaluate their investing style and create a retirement plan that is right for them.
Raymond J. Lucia, CFP (San Diego, CA), is a nationally renowned expert in the field of financial and business management. He is the founder and President of the Raymond J. Lucia Companies, Inc., which manages over $500 million in assets, and is the host of the nationally syndicated radio show The Raymond J. Lucia Show.
Customer Reviews:
Well Written and Very Comprehensive.......2007-06-26
This is an excellent book for those looking for a simplified approach to retirement funding.
A Valuable Case Study.......2007-05-12
I enjoy Ray's work. His book walks you through the financial planning process and clearly illustrates how it is done right. The first step of the process is factfinding and educating. The second is suggesting solutions. Ray's mastery of the process shines through and provides enough information to help you get started with your own plan.
Something for Everyone...........2007-04-05
This is an excellent book for the beginner to the more sophisticated person to consider when managing your retirement funds. Ray gives thoughtful insight into the potential investment strategies for three different "buckets of money". The difference in the 3 buckets is the time horizon the funds will be needed and the various amounts of investment risk that could be assumed in each time period.
His plan makes amazing sense and I have utlized it successfully in my personal retirement plan (I am 46 & retired) and my mother's (who is now 70 1/2). I have listened to Ray's business talk show for the past several years and also seen him speak at a free weekend morning seminar in Portland, OR. His personal judgement and that of his "brain trust" is safe, sound and easily followed.
I have purchased this book for myself and multiple family members/friends for their consideration. It has always gotten favorable reviews. I just purchased his newest book, "Ready..Set..Retire: Financial Strategies for the Rest of Your Life". I am anxiously awaiting it's delivery for any new information he has to share!
Finally a simple method.......2007-01-18
Whenever a financial advisor's starts to speak, I yawn intellectually. There are so many products and financial terms that I can't grasp it all. Enter Lucia with a plan so simple that even I can understand it. I loved listening to the "The Ray Lucia Show" and the book did not disappoint me.
"Don't run out of money before you run out of time"
Buckets of Money.......2006-11-05
I love the book. It's packed with solid information in a very easy-to-read format.
Product Description
By the early 90s, a raging bull market was delivering spectacular returns, causing some to believe that a market collapse and subsequent depression would soon appear. As a result of these fears, some exited the capital markets altogether. Thereafter, the Internet took off causing the market bubble to swell, many high-tech stocks with seemingly limitless valuations. Over the course of its 13-year stretch, the market appreciated by over 600 percent, with average annual returns in excess of 18 percent. And we all remember what happened at the start of the new millennium. Even after the deflation of the Internet bubble, cautious investors who pulled out of the market a decade earlier missed out on spectacular returns since then. Many investors who entered the market near its peak suffered devastating losses. But most who remained invested since the early 90s are still much better off today. While this correction revealed the most recent illusions embedded within the economy, it s only a small part of what will be a larger correction in the coming years. Despite the scandals in corporate America and Wall Street, many investors fail to recognize that the post-bubble period is quite different from the Bull Run in the 90s. But today, the capital markets have been realigned with authenticity, and economics now control the investment cycle rather than hype generated by Wall Street. Accordingly, Wall Street and the U.S. Government can only hide the realities of America s decline for so long. Unfortunately, America entered the free trade paradigm as a losing participant from the start. While America remains as the centerpiece for the global economy, it relies on record debt to maintain its status as the world s strongest consumer marketplace. But this cannot last much longer. America s vulnerable role in the new economy threatens to erode the strength of its empire. Already, America has witnessed a gradual disappearance of its core citizens; the middle class. As well, poverty continues to grow while America s wealthiest quintile increases their wealth. These trends have been masked by record levels of credit-based spending and manipulation of economic data. For over two decades, several nations have benefited at the expense of America s job base and living standards. This led to a long period of excessive consumption relative to productivity. When the economic boom from the post-war period began to lose steam in the 60s, consumption began to exceed productivity, as Americans refused to acknowledge a decline in living standards. Up until the 70s, America fueled this consumption-production disparity using the surplus wealth generated during the post-war boom. During the 80s, America s growing consumption was compounded by massive government spending and a devastating oil crisis. Shortly thereafter, the consumer credit industry grew to meet the demands of a nation experiencing large productivity deficits. And today, America is vastly different than the post-war period. Rather than increases in net wealth, America s growth over the past two decades has been fueled by credit spending which has created the illusion of impressive productivity, while serving to mask declining living standards. As a consequence of these changes, America s financial industry is now one of its biggest and most profitable. Today, America is more dependent on foreign nations than anytime in its history. Declining oil reserves and a foreign-funded credit bubble have positioned the fate of this nation in the hands of the world. Soon, America will face the economic burden of 76 million aging boomers. Beginning in 2011, mandatory expenditures for Medicare, Medicaid and Social Security will start to grow rapidly. By 2025, these expenses will have swelled to unthinkable levels.
Customer Reviews:
Riddled with inaccuracies.......2007-07-30
This book manages to cover all major problems faced by the United States in the next 20-30 years - trade deficit, healthcare crisis, education crisis, etc. - and it does so in a fairly comprehensive way, with large numbers of facts and graphs.
The reason why I can't give it more than 3 stars for this achievement is that the number of mistakes it contains (from misspellings to factual errors) is absolutely incredible. It seems that no one (other than the author) so much as read the book before it went to the printing press.
First of all, there are spelling errors. English is not my native language, yet I've been able to notice one spelling error every 20-30 pages. "Notices in-lue of gold" (p.2). "Right to bare arms" (p.25). "America will loose its technology edge" (p.61), and so on. There are factual errors as well. According to the author, Statue of Liberty was erected on Ellis Island (p.27), Berlin Wall fell "a few years" after 1991 (p.10), and Albert Einstein immigrated into the United States in 1940. He thinks that women who give birth after entering the United States illegally are guaranteed citizenship because their newborns become U.S. citizens (p.32) - but he either does not know or fails to mention that they have to wait for their child to turn 18 before they even have a shot at legalization. He frequently claims (or implies) that Chinese goods are cheaper because Chinese government and Chinese companies do not provide healthcare or retirement benefits to their workers (p.41), when in fact they do. All these problems make me wary of any other claims he makes in his book.
There are many interesting graphs and charts in the book, but at least some of them were "cooked up" by the author from third-party data, so they are not always reliable. One rather puzzling chart is located on p. 113. It is a pie-chart labelled "Factors Driving Rising Costs in Healthcare (2001-2002, in $ billions)". However, pieces of the pie are labelled with percentage values and clearly add up to 100% (e.g. "Increased Consumer Demand, 15%"). Author comments, "Someone explain to me the economics of increased consumer demand leading to a 15% increase in healthcare costs in one year". It's clear that he has no idea what's really shown on the chart.
The book is heavy on portrayal of various weaknesses in modern U.S. economy, but rather light on attempts to predict the future. There is almost no discussion about the impact of American crisis on the rest of the world. Author predicts major revaluation of the dollar, but does not provide any macroeconomic analysis of consequences of this revaluation. He seems to think that collapse will not occur at least until 2012, but he's not very clear why he thinks it won't be triggered by deflation of the real estate bubble.
Overall this is an interesting and comprehensive book that's worth reading for anyone who thinks that U.S. economy is doing well, but it's not scientific or reliable enough to be of real value for an investor.
I recommend "Dollar Crisis" as a complementary treatment of the U.S trade deficit / credit bubble problem.
A chilling but accurate expose of how we came to be in such economic peril as a capitalist nation.......2007-06-10
In writing "America's Financial Apocalypse: How To Profit From The Next Great Depression", the author draws upon his many years of experience and expertise as a business, financial, and investment consultant for two of Wall Street's largest investment firms and elsewhere in private financial markets. Strathis provides an impressively analytical explanation as to how the liberals on the left and the conservatives on the right are working in differing ways to destroy America's fiscal and economic well-being; how the federal government in Washington is dominated by corporations; how China has taken total advantage of America's trading policies to our nation's detriment. Readers will be shocked to learn how America is legally bankrupt; how today the 'American Dream' cannot be achieved by most American citizens; the truth concerning the future of Social Security; the inevitable and looming consequences of the present pension plan crisis; and why most Americans working today will not be able to retire as their parent were able to in the past. "America's Financial Apocalypse" also addresses just how the American government manipulates economic data; how the Bush administration is responsible for the worst economic recovery in American financial history; how the real estate bubble could cause the stock and bond markets to collapse; how America's political and economic fate is in the hands of foreign countries; why the American government is really allied to the Saudi Arabians despite the established identities of the 9/11 attack; the looming global oil crisis; Alan Greenspans dismal performance as a Fed Chairman; the plummeting value of the dollar in the international currency markets; and the continuing rise in value of precious metals and oil. After laying out all of these 'inconvenient truths' about America's economic future, Strathis also lays out how the wise and savvy investor can still profit from an inevitable depression that will collapse America's economy in the very near future. A chilling but accurate expose of how we came to be in such economic peril as a capitalist nation, "America's Financial Apocalypse" is especially recommended reading for its clear and methodical explanation of just how the individual investor can survive what will prove to be the 'Next Great Depression'.
This Book Has NO Comparable!.......2007-04-05
Finally, an insightful, detailed, and massive compilation of America's economy and investment markets. This book is HIGHY recommended.
The reviewer below is actually wrong in his simplistic assumption that deflation is the exact opposite of inflation. While deflation tends to cause a relative increase in buying power, this effect is only when deflation is modest and in the early stages. During a more prolonged period, deflation creates a decline in GDP and therefore purchasing power due to the relative effects on currency exchange rates.
I find it amazing that a person could give such a bad review over one statement that he thinks is wrong (when in fact it is not) despite all of the massive data and extensive coverage of material. If a reader chooses to cherry pick from within a massive resource such as this book, they will miss the forest from the trees.
Hold on there...........2007-04-05
After spending $55+ for this book, I started to leaf through it and promptly came across the following comment: "...rising gold prices usually result from a deflationary economy not an inflationary one, as investors seek to minimize the loss in buying power of their currency." So far as I know, a deflationary environment INCREASES the buying power of one's currency, as prices generally decrease during a deflationary episode. In other words, one can buy more loaves of bread per dollar in the bank. Gold is generally a hedge against inflation or fiat currency collapse, not deflation. Given what seems to me a basic error of this nature, I will be skeptical of other information in the book.
Well done!.......2007-04-02
I have read a dozen books that attempt to cover similar topics in a piecemeal fashion; this book is clearly more comprehensive. The author is very forward looking in his compelling explanation of the structural challenges that will soon face America as a nation. The vast majority of Americans are oblivious to the massive "tsunami" of political and economic challenges that will crash on the shores of our nation within the next 1-2 decades. Read this book and get informed; it will motivate you to reflect on your priorities.
Books:
- Supervision of Police Personnel (6th Edition)
- Supervision of Police Personnel (6th Edition)
- The 48 Laws of Power
- The 48 Laws of Power
- The Attractor Factor: 5 Easy Steps for Creating Wealth (or Anything Else) from the Inside Out
- The Canon of American Legal Thought
- The Complete Taj Mahal
- The Emperor's New Mind: Concerning Computers, Minds, and the Laws of Physics (Popular Science)
- The Essays of Warren Buffett : Lessons for Corporate America
- The Foundation: A Great American Secret; How Private Wealth is Changing the World
Books Index
Books Home
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Investments
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| Business & Investing
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The Last Chance Millionaire: It's Not Too Late to Become Wealthy
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The New Rules of Money: 88 Simple Strategies for Financial Success Today
